The Trailblazing Meeting

The meeting was chaired by Bounleua Sinxayvoravong, Governor of the Bank of Lao PDR, and Mrs. Chea Serey, Governor of the National Bank of Cambodia. The agenda was broad and covered crucial topics such as macroeconomics, monetary policy, and banking sector development. The focus, however, was squarely on digital connectivity between the payment systems of both nations.

The Lao-Cambodia QR Code Payment System

The highlight of the meeting was the introduction of the Lao-Cambodia cross-border payment system, known as KHQR scan LAOQR. This system allows users in both countries to pay for goods and services using their local currencies—Lao kip and Khmer riel—via QR codes.

The MoU and Facilitating Entities

This new payment avenue is the result of a Memorandum of Understanding (MoU) signed in 2022 in Phnom Penh, Cambodia. The initiative aims to foster cooperation in financial innovation and digital payment systems and is facilitated by LAPNet Company and ACLEDA Bank of Cambodia.

Participating Banks

The KHQR scan LAOQR system will be accessible through eight commercial banks in Laos, including BCEL, ACLEDA Bank Lao, Kbank Lao, BIC, APB, LVB, Indochina, and JDB. This rollout means that Cambodian tourists in Laos can make QR code payments at stores that display the logo of one of these banks. A counterpart system for Lao tourists in Cambodia is set to launch in Q4 2023.

A Step Toward International Standards

Both countries have agreed to implement a QR code payment system that adheres to international standards. The move is expected to encourage digital payments regionally and promote the use of local currencies for cross-border transactions.

Conclusion

The launch of this cross-border payment system signifies a significant step in modernizing the financial ecosystems of Cambodia and Laos. By easing the payment processes for both locals and tourists, the new system promises to be a game-changer for the region.

A more digitally integrated future awaits, and this initiative has set the pace for it.

Source: https://www.thestar.com.my/aseanplus/aseanplus-news/2023/08/27/cambodia-and-laos-launch-cross-border-qr-code-payment-system

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New Payment Flexibility

Chua Lay Hoon, the COO of IJM Toll Division, stated that the new system would align with the government’s ongoing efforts to improve highway user experience. With SPT, highway users can now pay tolls using not just existing methods like Touch ‘n Go, SmartTag, and RFID, but also debit and credit cards, as well as prepaid cards.

How to Spot the SPT Lanes

To facilitate a smooth transition, lanes that are equipped with the new SPT system are clearly marked. Distinctive signs at toll booths will guide motorists towards these lanes.

Important Reminder for Motorists

While this seems like a step forward, users should note that they need to ensure sufficient balance in their credit cards before making toll payments. In case of a transaction hiccup, the system allows for quick switchover to alternative bank cards or the ever-reliable Touch ‘n Go card.

Conclusion

IJM Toll Division believes that the SPT system will not only make toll payments more convenient for highway users but also streamline the toll collection process. While this is a pilot phase, its success could mark a significant advancement in the Malaysian toll collection system.

So, next time you’re on the Besraya or NPE highways, don’t forget to look out for these new SPT lanes and give them a try.

Happy driving!

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What Makes DuitNow Soundbox Unique?

1. Instant Audio Notification : No more checking your app manually. Get an instant sound notification whenever a payment is successful.
2. Versatile and Compatible : Our Soundbox supports any payment platform utilizing DuitNow QR, offering you flexibility.
3. Affordable and Value-packed : Priced at just RM199 for the standalone unit, without SIM card data. No hidden transaction or monthly fees. WiFi usage is also available.
4. Quick and Easy Setup : Just connect it to your existing system, and you’re ready to go.
5. Verified and Secure : All transactions are verified by our trusted service provider and transferred to the merchant’s account within 2 days.
6. Accessible and Traceable : Track all transactions and payments via an app, making your life simpler and more efficient.

Unlike other options in the market, our Soundbox not only notifies you of successful transactions but also provides an all-in-one solution tailored for your business needs.

Why Choose DuitNow Soundbox?

• Stay Informed without Hassle: No more fumbling with your device to confirm payments. Hear it right away!
• Build Trust with Customers: Show your customers that their payments are processed securely and promptly.
• Affordable Investment: With no hidden costs or subscriptions, it’s a small investment for big returns.

Don’t miss out on this opportunity to elevate your Point-of-Sale experience. Act now! Limited units are available.

You can purchase it via 2 options

1. Online Store edxaPay
2. WhatsApp

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Bank Negara Malaysia (BNM) and the Monetary Authority of Singapore (MAS) jointly launched a cross-border QR code payment system that allows customers of participating financial institutions to make retail payments by scanning DuitNow QR and NETS QR codes. This payment linkage will support both in-person payments through the scanning of physical QR codes displayed by merchants and online cross-border e-commerce transactions.

The DuitNow-NETS QR code payment linkage marks a significant step forward in the collaboration between Malaysia and Singapore to enhance cross-border payments connectivity. With pre-pandemic annual traffic between the two countries averaging 12 million visitors, this payment linkage will provide merchants and consumers with a more seamless and efficient means to make and receive payments. It aligns with the ASEAN Payment Connectivity Initiative and the G20 Roadmap for Enhancing Cross-border Payments, demonstrating both countries’ commitment to improving the cost, speed, access, and transparency of cross-border payments.

The initiative is a result of strong collaboration between various industry players from both countries, including Payments Network Malaysia Sdn. Bhd. (PayNet), Network for Electronic Transfers (Singapore) Pte. Ltd (NETS), the Association of Banks in Singapore, and participating financial institutions from both countries.

In the next phase, BNM and MAS plan to expand the payment linkage to enable cross-border account-to-account fund transfers and remittances, allowing users to make real-time fund transfers between Malaysia and Singapore conveniently using just the recipient’s mobile phone number via DuitNow and PayNow. The service is expected to go live by the end of 2023.

According to Bank Negara Malaysia Governor Tan Sri Nor Shamsiah Mohd Yunus, this payment linkage is a significant step forward in realizing the vision of an ASEAN network of fast, efficient, and interconnected retail payment systems. It will benefit millions of commuters and businesses in both countries and boost retail businesses’ growth. He also highlighted their commitment to accelerate their digitalization agenda for increased regional economic and financial integration.

Managing Director of the Monetary Authority of Singapore, Mr. Ravi Menon, emphasized that this QR code linkage between Singapore and Malaysia is a crucial milestone in ASEAN’s journey towards seamless regional payments connectivity, boosting cross-border commerce and enabling small businesses to tap into a wider pool of consumers.

Source: https://www.bnm.gov.my/-/qrcode-connectivity-my-sg

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However, payment gateways do not come for free. They charge fees to merchants for each transaction that they process. These fees can vary widely depending on the payment gateway provider, the type of transaction, and other factors. In this article, we’ll take a closer look at payment gateway fees and how they work for Malaysian merchants.

Types of Payment Gateway Fees

There are typically three types of fees associated with payment gateways: setup fees, transaction fees, and monthly fees.

1. Setup Fees

Setup fees are one-time charges that payment gateway providers may charge when you sign up for their service. These fees can range from a few hundred to a few thousand ringgit, depending on the provider and the complexity of the setup.

2. Transaction Fees

Transaction fees are charged for each transaction that is processed through the payment gateway. These fees typically range from 1% to 3.9% of the transaction amount, with a per-transaction fee of around RM1.00 to RM1.50.

3. Monthly Fees

Some payment gateway providers may also charge a monthly fee for their service. This fee is typically charged to cover the cost of maintaining the gateway and providing support to merchants. Monthly fees can range from a few hundred to a few thousand ringgit, depending on the provider and the level of service.

Factors That Affect Payment Gateway Fees

Several factors can affect the fees charged by payment gateway providers. These include:

• Payment Gateway Provider. Different payment gateway providers charge different fees. Some may offer lower transaction fees but higher setup fees, while others may have no setup fees but higher transaction fees. It’s important to shop around and compare different providers to find the best fit for your business.
• Transaction Volume. Payment gateway providers may offer discounted transaction fees for merchants with high transaction volumes. If you anticipate processing a large volume of transactions, it may be worth negotiating with your provider for lower fees.
• Payment Type. Some payment types, such as credit cards, may have higher transaction fees than others, such as bank transfers or e-wallets. Consider offering a range of payment options to customers to reduce the impact of these fees.
• Risk Level. Payment gateway providers may charge higher fees for merchants in high-risk industries, such as gambling or adult content. If your business falls into one of these categories, be prepared for higher fees.
• Currency Conversion. If you accept payments in multiple currencies, your payment gateway provider may charge additional fees for currency conversion. These fees can vary widely depending on the provider and the currency.

Conclusion

Understanding payment gateway fees is an important part of managing your online business. By knowing the types of fees and factors that affect them, you can make informed decisions about which payment gateway provider to choose and how to structure your pricing. Remember to shop around and compare different providers to find the best fit for your business, and negotiate for lower fees when possible. With the right payment gateway and fee structure in place, you can provide a seamless payment experience for your customers and grow your online business.

At edxaPay, we believe in providing our customers with flexibility when it comes to payment gateway fees. That’s why we offer different degrees of fees depending on your chosen plan. Our FREE sign-up option has no hidden annual or registration fees, allowing you to enjoy competitive pricing that won’t break the bank.

For online banking transactions, our fees are as low as RM1.00 per transaction. Click here to see more details of our plan.

If you’re a developer or a SaaS provider, we also offer special rates that are tailored to your unique needs. Feel free to chat with us to discuss further and find a pricing plan that works best for you. At edxaPay, we’re committed to making payment processing easy and affordable for businesses of all sizes.

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Mari kita kupas serba sedikit cara-cara lain untuk menerima bayaran daripada pelanggan selain tunai.

1. Cek

Pemilik syarikat atau individu yang mempunyai akaun semasa biasanya menggunakan cek untuk membuat proses pembayaran. Tarikh yang ditulis diatas cek hendaklah diperiksa terlebih dahulu kerana anda akan mengalami gangguan aliran tunai jika tarikh yang tertera diatas cek adalah tarikh masa depan. Cek hanya boleh ditunaikan mengikut tarikh yang tertera pada cek tersebut.                                                                 

• Deposit Tunai di CDM

Selain daripada itu, deposit tunai (CDM) juga menjadi pilihan pelanggan untuk membuat pembayaran kerana ada sesetengah daripada meraka tidak mempunyai online banking.

• Online Transfer

Online transfer juga merupakan kaedah yang digunakan oleh kebanyakan pelanggan pada masa kini. Pelanggan perlu melalui proses log masuk menggunakan browser atau apps untuk membuat transaksi pembayaran. Selepas itu, pelanggan akan kongsikan bukti pembayaran kepada peniaga secara manual.

• Kad Debit/Kredit

Pada masa kini Kad Kredit/debit juga menjadi salah satu cara pembayaran yang semakin popular di kalangan pelanggan. Selain daripada proses pembayaran menjadi lebih pantas, pelanggan juga akan mendapat manfaat seperti mata ganjaran, diskaun dan pulangan tunai (cashback). Anda hanya perlu swipe atau masukkan nombor PIN kad anda dan selesai! Lebih canggih, hanya “wave” sahaja.

• QR Pay

Melalui QRPay, pembeli boleh membuat pembayaran melalui telefon hanya dengan mengimbas kod khas yang disediakan oleh penjual. Pelanggan hanya perlu ada sambungan internet dan fungsi kamera atau applikasi QR code scanner.

• E-Wallet

E-Wallet atau e-Dompet bertujuan untuk menggantikan dompet fizikal supaya kita tidak perlu lagi membawa wang tunai atau beg tangan ke mana-mana. Pelanggan juga hanya perlu membuka aplikasi dalam telefon mudah alih mereka untuk membuat pembayaran. Semua kini mudah hanya di hujung jari anda!

• Payment Gateway

Akhir sekali, gerbang pembayaran atau payment gateway kini semakin mendapat tempat bukan sahaja dikalangan peniaga online yang mempunyai website (E-Commerce) malah peniaga yang mempunyai kedai sendiri.

Payment gateway seperti edxaPay memberi pelbagai cara untuk pelanggan membayar dengan mudah sama ada melalui kad debit/kredit, perbankan internet, pembayaran tunai dan juga e-wallet. EdxaPay juga memboleh kan peniaga mengutip bayaran daripada pelanggan melalui pelbagai platform media sosial termasuk Facebook, Instagram, WhatsApp dan lain-lain.

Begitulah serba sedikit ringkasan tentang cara terima bayaran selain daripada duit tunai.

Dengan cara terima pembayaran selain tunai juga dapat membantu peniaga untuk kelangsungan bisnes mereka. Semoga dengan perkongsian ini dapat memberi serba sedikit peluang yang luas kepada peniaga untuk keluar dari zon selesa.                                          

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Secara amnya, Gerbang Pembayaran memberi penyelesaian untuk menjadikan proses pembayaran lebih mudah dan efisien.

Antara kelebihan gerbang pembayaran termasuk:

Proses transaksi pembelian lebih mudah dan cepat

Gerbang pembayaran memudahkan pelanggan anda untuk membeli produk yang mereka inginkan dengan mudah dan cepat. Proses transaksi akan dilaksanakan secara automatik serta memberi pelbagai kaedah pilihan untuk pembayaran secara atas talian sama ada melalui kaedah kad debit/kredit, pindahan bank atau e-walet. Tanpa mengaplikasikan gerbang pembayaran ini, semua butiran transaksi dan semakan mesti dilakukan secara manual oleh peniaga.

Urusan urusniaga yang lebih selamat

Gerbang bayaran memberi keselamatan terhadap data pelanggan anda kerana ia dilindungi oleh lapisan penyulitan dan memastikan bahawa pembayaran adalah sah sebelum mencapai ke institusi perbankan/kewangan. Proses ini mengesahkan bahawa data peribadi pelanggan, seperti butiran dan alamat kad kredit, disimpan dengan selamat dan dilindungi daripada penipuan. Tiada keraguan untuk pelanggan melakukan urusan jual beli dengan anda.

Menerima Pembayaran secara 24 jam di mana jua berada

Gerbang pembayaran memboleh pelanggan anda melalukan pembayaran dari atas talian secara 24 Jam, 7 hari seminggu tidak kira di mana mereka berada. Berbanding jika anda menggunakan proses pembayaran secara manual, pelanggan perlu menunggu peniaga untuk kongsikan butiran secara manual sebelum meneruskan proses pembayaran.

Kesimpulannya, dengan adanya gerbang pembayaran, ia sedikit sebanyak akan dapat memudahkan urusan pelangan  anda, serta tingkatkan penjualan perniagaan anda.

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